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OSC TestLab selects 7 businesses to help improve new capital markets testing environment

OSC | Apr 26, 2022

TORONTO – The Ontario Securities Commission (OSC) today announced that innovative solutions put forward by seven businesses will be part of its new capital markets testing environment, OSC TestLab. This initiative allows businesses to test solutions that can help Ontario registrants and contribute to better investor outcomes.

See:  Ontario moving ahead with expanded mandate for OSC

The following businesses will test solutions that include product comparison, client onboarding, portfolio analytics and assessment tools that leverage behavioural science, artificial intelligence and automation, among other approaches:

  • Broadridge Investor Communications Corporation
  • LockDocs Inc.
  • Mako Fintech
  • Morningstar Research Inc.
  • Syntoniq, Inc.
  • TMX Group
  • Wealthscope

“We are pleased to see such a strong response to our first test, which harnesses the collaborative power of people, ideas and expertise,” said Pat Chaukos, Director of the Innovation Office. “OSC TestLab is a unique opportunity to effect change and support innovation in our capital markets.”

Participating firms will begin testing later this spring with testing expected to conclude in fall 2022. More details about the tests, including how to participate as a registrant or investor, is available at oscinnovation.ca/TestLab/spring2022

In November 2021, the OSC invited businesses to submit applications to test their innovative solutions to make product information more accessible, improve information sharing and enhance registrant-client interactions. From these applications, the OSC selected seven firms to participate in testing.

See:  How you can experiment, learn and improve with OSC TestLab

A first for Canada, OSC TestLab invites businesses to experiment with innovative solutions in Ontario’s capital markets as part of focused, group testing. Testing will provide opportunities for participants to learn through experimentation and gather feedback that can help to fine-tune and tailor solutions. At the same time, insights from testing can provide valuable input to inform the OSC’s efforts to modernize Ontario’s regulatory environment.

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NCFA Jan 2018 resize - OSC TestLab selects 7 businesses to help improve new capital markets testing environmentThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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